Initial Public Offering
Baird served as a co-manager in this offering
AboutThe Cushing Royalty & Income Fund (NYSE: SRF) (the “Fund”) recently completed an initial public offering of 8,300,000 shares of its common stock at a price of $25.00 per share. The offering generated approximately $207.5 million of gross proceeds. The Fund intends to invest the net proceeds from the offering in accordance with the Fund's investment objectives and policies.
SRF is organized as a Delaware statutory trust and is a newly organized, non-diversified, closed-end management investment company. The Fund seeks to achieve its investment objective by investing at least 80% of its net assets in securities of energy-related U.S. royalty trusts and Canadian royalty trusts and exploration and production companies (collectively, “Energy Trusts”), exploration and production master limited partnerships (“MLPs”) and securities of other companies based in North America that are generally engaged in the same lines of business as those in which Energy Trusts and MLPs engage. The Fund is managed by Cushing MLP Asset Management, LP.
For additional information about this transaction, please contact:
- February 2012
- The Cushing Royalty & Income Fund
- Target Location
- North America